TD Bank To Pay $4.25M To Resolve Overdraft Fee Suit – Law360

Written by Amanda

TD Bank To Pay $4.25M To Resolve Overdraft Fee Suit  Law360

By Katryna Perera (November 2, 2021, 6:21 PM EDT) — TD Bank has agreed to pay $4.25 million to settle a class-action suit brought against it by a consumer who alleged the bank was charging excessive overdraft fees on its customers’ accounts.

A motion for preliminary approval of the settlement was filed in Florida federal court Monday by plaintiff Jill Abercrombie.

According to the motion, the $4.25 million settlement fund — representing a recovery of 33% of the maximum damages that the plaintiff argued were at issue — will be inclusive of all attorneys fees and expenses, administration and notice costs, and any service awards approved by the court.

The funds…

Source: law360.com

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